REG - Oxford Cannabinoid - Requisition of General Meeting - Update

Oxford Cannabinoid Technologies HoldingsAnnouncement

04/03/2022 13:00

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RNS Number : 7153D  Oxford Cannabinoid Tech.Holdings  04 March 2022

 

 

Oxford Cannabinoid Technologies Holdings plc

("OCTP" or the "Company")

Requisition of General Meeting - Update

 

Oxford Cannabinoid Technologies Holdings plc announces that, following
discussions with shareholders, it is already in receipt of irrevocable
undertakings from holders of 446,632,048 ordinary shares of £0.01 each in the
issued share capital of the Company ("Ordinary Shares"), representing
approximately 46.5 per cent. of the issued share capital of the Company, to
vote AGAINST the resolutions proposed by GHS Capital Limited ("GHS Capital")
in its letter requisitioning a general meeting of the Company, as announced on
18 February 2022.

GHS Capital is the holder of 78,146,151 Ordinary Shares, representing
approximately 8.14 per cent. of the issued share capital in the Company.

Given the above, and with the objective of saving administrative costs, the
Company invited Mr Sathianathan, in his capacity as Chairman, CEO and Director
of GHS Capital, to withdraw the requisition. Mr Sathianathan has not responded
to such invitation and consequently the Company will publish a full circular,
including a notice of general meeting (expected to be held on 06 April 2022),
in due course.

Shareholders are advised to take no action at this time.

This announcement contains inside information for the purposes of Article 7 of
EU Regulation 596/2014 (which forms part of domestic UK law pursuant to the
European Union (Withdrawal) Act 2018).

The Directors of the Company accept responsibility for the content of this
announcement.

Enquiries:

 Oxford Cannabinoid Technologies Holdings plc  +44 (0)20 3034 2820

 Dr John Lucas (CEO)                           john@oxcantech.com (mailto:john@oxcantech.com)

 Clarissa Sowemimo-Coker (COO)                 clarissa@oxcantech.com

 Cairn Financial Advisers

 Emily Staples                                 +44 (0)20 7213 0897

 Jo Turner                                     +44 (0) 20 7213 0885

 Walbrook PR Limited                           +44 (0)20 7933 8780

 Paul Vann                                     +44 (0)7768 807631

 Nicholas Johnson                              oxcantech@walbrookpr.com

 Harbor Access LLC

 Jonathan Paterson                             +1 (203) 862 0492

 Richard Leighton                              Richard.Leighton@harboraccessllc.com

 

 

About Oxford Cannabinoid Technologies Holdings Plc:

Oxford Cannabinoid Technologies Holdings plc is the holding company of Oxford
Cannabinoid Technologies Ltd, a pharmaceutical company developing prescription
cannabinoid medicines for approval by key medicines regulatory agencies
worldwide and targeting the U$ multi-billion pain market (together the
"Group"). Cannabinoids are compounds found in the cannabis plant that have
been shown to have a range of therapeutic effects on the body, including pain
relief. The Group has a clearly defined path to commercialisation, revenues
and growth. The Group is developing drug candidates through clinical trials to
gain regulatory approval (FDA/MHRA/EMA) that will enable medical professionals
to prescribe them with confidence.

The Group's portfolio aims to balance risk, value and time to market, whilst
ensuring market exclusivity around all its key activities. The Group's lead
compound, OCT461201, is a highly potent and selective CB2 agonist and is being
developed by OCT in a solid oral dosage form. OCT is conducting pre-clinical
testing and development with pre-clinical trials scheduled for 2022. The
Group's product pipeline also uses a balanced drug product strategy that
employs both natural and synthetic compounds for the treatment of rare
diseases and includes chemically modified phytocannabinoids with improved
drug-like characteristics and a proprietary library of cannabinoids.

OCTP operates a partnership model with external academic and commercial
partners.

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